PR No – 125
24th July, 2024
New Delhi
India’s Medical Devices Industry Set to Grow fivefold by 2030, Says Shri Rajeev Singh Raghuvanshi, Drugs Controller General of India at PHDCCI Conference
PHDCCI organised an important conference on classification of health products namely “Health Horizons: Defining the Future of Health Products” at PHD House, New Delhi on 24th July 2024. The event brought together key industry leaders and policymakers to discuss the future of health products in India.
Dr. Rajeev Singh Raghuvanshi, DCGI, CDSCO, Ministry of Health and Family Welfare, Government of India, graced the event as the Chief Guest. He projected a fivefold growth in India’s medical devices industry by 2030, driven by supportive policies and innovation. Dr. Raghuvanshi emphasized the crucial role of regulations in establishing a quality framework that has significantly boosted the sector. He highlighted the immense potential in areas such as in vitro diagnostics, evidenced by 280 domestic manufacturing licenses and 900 import licenses. However, he pointed out that the reagents used in production are predominantly imported, signaling an area ripe for development. He also requested the Indian healthcare industry to focus on quality products to ensure better healthcare to our citizens and also to become globally competitive.
Dr. Madhur Gupta, Technical Officer at the World Health Organisation, echoed the need for India to develop in-house reagents for diagnostic kits within the next three to five years. Aligning with the Make in India and Atmanirbhar Bharat initiatives, this shift would not only reduce costs but also improve access. Dr. Gupta mentioned WHO’s focus on creating strategic and regulatory pathways for multiplex diagnostic kits, which can diagnose multiple diseases from a single blood drop. He highlighted ongoing developments in this area through public sector enterprises and major science agencies like BIRAC and ICMR and called for a unified approach to strengthen diagnostic schemes in collaboration with Indian states.
Mr. Srinivasa Reddy, Sr. VP – Operations, QRA, and Government Affairs at S S Innovation, discussed the Union Health Ministry’s interim Budget for 2024-2025, which has seen a 12.59% increase, allocating Rs 90,658.63 crore. He noted significant allocations for health and family welfare, AB PM-JAY, and the National Health Mission. Mr. Reddy highlighted the reduction in import dependency in the Indian medical devices sector to 70-80% from over 90% in 2015, despite a rise in high-end medical device imports. He stressed the need for strengthening the “Make in India” programme by opening PLI for advanced medical devices, correcting duty structures, and enhancing support for local manufacturing. He also underscored the importance of a standardized nomenclature for medical devices to ensure patient safety and regulatory compliance.
Dr. Ravinder Singh, Senior Scientist at ICMR, set the theme address, emphasizing the importance of classifying health products. He outlined how proper classification ensures standardization, regulatory compliance, and effective healthcare delivery, facilitating focused research, targeted innovation, efficient resource management, and enhanced patient safety.
Mr. Atantra Das Gupta, Co-Chair of the Medical Device Committee at PHDCCI and Head of Samsung HME, delivered the welcome address. He highlighted PHDCCI’s role in promoting Indian industry and the critical importance of health product classification for standardization, regulatory compliance, and effective healthcare delivery.
Dr Nasir Jamal, Senior Secretary, PHDCCI moderated the Conference
The conference also featured a dedicated session on the definition and categorization of health products, emphasizing their roles in preventing disease, promoting health, managing health problems, and providing rehabilitative, assistive, or palliative care.
The session, chaired by Dr. Kamal Kishore, Professor & Head (Retd.), Department of Pharmacology at AIIMS, New Delhi, featured a diverse panel of experts. Dr. Azadar Khan, Senior Vice President of India Regulatory Affairs & Corporate Relations at Sun Pharma Ltd, spoke on drugs and medicines. Mr. Neeraj Gupta, Founder and CEO of Genes2Me Pvt. Ltd, addressed diagnostics, while Dr. Ravinder Singh, Senior Scientist at ICMR, discussed assistive products. Mr. Praveen Srivastava, Senior Director at CDAC, MeitY, explored digital and health technology. Mr. K. Vijay Kumar Gupta, CEO of Kwality Photonics, RAYPURE-LEDchip Indus Pvt. Ltd, presented on human-friendly disinfection through lighting. Lastly, Dr. Salaj Rana, Scientist C at ICMR, highlighted convergence augmentative technology (CAT).
Before the conclusion of the conference, two special addresses were delivered. Mr. Avijit Bansal, Fellowship Director at the National Center for Assistive Health Technology, AIIMS, New Delhi, gave a compelling talk on “Fostering Med-tech Innovation in India.” Following this, Mr. Rajiv Nath, Managing Director of Hindustan Syringes & Medical Devices Ltd., presented a special address on “Creating a Manufacturing Ecosystem in Medical Devices.”
This important conference was well attended by more than 100 industry delegates from the healthcare sector and was supported by ICMR and was sponsored by SS Innovation and Raypure.
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Warm Regards,
Media Division
PHD Chamber of Commerce and Industry